Cramo, an international rental services provider, acquired 100 percent in Latvia's Tapeks Noma, which possesses a wide range of construction machinery and equipment rental services and has 16 outlets across Latvia. The deal is to be closed in April, and the companies agreed not to reveal its value, said Tapeks Noma managing director Ricards Batarags.
Stoneridge Electronics, a manufacturer of electronic components for the automobile industry, announced it will build a factory in the Tanassilma technical park in Saue outside Tallinn. The factory will provide jobs for 260 people, 60 to new workers. According to plans the new facility will be completed in August; at present it operates in the Jarve area of Tallinn. Earlier it was reported that Stoneridge-Pollak would close its facility in England and transfer production to Estonia and China.
Lithuania's laser production increased 10 percent in 2007 to 85 million litas (24.6 million euros). This year the market should expand 5-10 percent, with growth largely boosted by EU assistance for science and research. At present the laser industry is mainly focused on production of research equipment, Valdas Sirutkaitis, head of the Laser Research Center of Vilnius University, said. "However, we have to renew, install new equipment and develop lasers for industrial applications if we want to keep the positions on the global laser market. And the EU support will serve this purpose greatly," he added.
